News: GCY Gascoyne Resources Says Co To Undertake Share Purchase Plan To Raise Up To $5 Million, page-28

Really not happy with the placing , i am puzzled why they started their drilling campaign spending the cash , also why not borrow a few more quids when they took on the debt seems a little short sighted .I am somewhat forced now to buy in upcoming public offering just to lower my average. Anyone else taking the plunge with the offering?
I have concerns also regards the timespan of ramp up, seems incredibly long for a relatively small operation. I would email these concerns to the company,but that would be a total waste of my time as they never reply.

Just deflated with GCY’s management furnishing of city types and highly discounted placing. I was told by a uk ceo never trust an Aussie ceo, I thought gcy was different how wrong I was . Some of the cash raises this year I’ve suffered in Aussie stocks have been highly discounted and manipulated to suit the institutional investors .
I am slowly removing my cash from the markets right now as and when I turn profit , moving it into the Uk property market .